Western Beef parent company files plans for 159-unit project in northern Bronx

Project at 4720 Third Avenue would span about 190K sf

TRD New York /
Mar.March 04, 2019 03:30 PM

4720 Third Avenue in the Bronx and Cactus Holdings CEO Peter Castellana (Credit: Google Maps and RSM)

The holding company that controls discount supermarket Western Beef is planning to build a 159-unit mixed-use building in the Bronx.

Peter Castellana’s Cactus Holdings filed plans with the city’s Department of Buildings for a project at 4720 Third Avenue that will span nearly 191,000 square feet. The company and Michael Ashkenazy bought that site, along with 4734 Third Avenue and 448 East 189th Street, in 2018 for $18 million from Mayo Associates. The parcels are currently parking lots.

The nine-story building will be split between about 128,000 square feet of residential space, 61,000 square feet of commercial space and 900 square feet of community space.

Cactus and Ashkenazy have partnered on other middle-market investment sales in the last two years, including a $19 million commercial condo in the Upper West Side.

Cactus also owns properties in Kingsbridge, Foxhurst, Morisania, West Bronx, Soundview, Belmont, Morris Park and Mott Haven, according to its website.

Other projects coming to the Bronx include a multifamily building from Brooklyn investor Shimshon Grunstein at 550 Trinity Avenue and a two-tower project from Omnibuild at 290 East 149th Street with 124 units.


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)

Maddd Equities, Joy Construction score $64M for massive Bronx project

From left: 305 East 47th Street and 286 River Avenue (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

California passes landmark rent control law

Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

The construction giants catching a Windy City windfall

arrow_forward_ios